Tower Research Capital LLC TRC Purchases 31,897 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Tower Research Capital LLC TRC increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STXFree Report) by 375.4% during the fourth quarter, HoldingsChannel reports. The fund owned 40,393 shares of the data storage provider’s stock after buying an additional 31,897 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Seagate Technology were worth $3,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Seagate Technology during the 4th quarter worth $26,000. CVA Family Office LLC bought a new stake in Seagate Technology during the 4th quarter worth $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Seagate Technology during the 4th quarter worth $28,000. Parkside Financial Bank & Trust grew its position in Seagate Technology by 85.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $31,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 0.1 %

Shares of Seagate Technology stock opened at $96.11 on Friday. The company has a market cap of $20.18 billion, a PE ratio of -74.50 and a beta of 1.03. Seagate Technology Holdings plc has a 52 week low of $57.32 and a 52 week high of $101.26. The business has a 50 day moving average price of $90.60 and a 200-day moving average price of $87.51.

Seagate Technology (NASDAQ:STXGet Free Report) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. The business’s revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.43) earnings per share. As a group, research analysts anticipate that Seagate Technology Holdings plc will post 0.4 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the sale, the executive vice president now owns 15,185 shares in the company, valued at $1,442,575. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ban Seng Teh sold 9,703 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the sale, the executive vice president now owns 15,185 shares in the company, valued at approximately $1,442,575. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on STX shares. UBS Group upped their price target on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, April 24th. Cantor Fitzgerald upped their price target on Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Finally, Loop Capital boosted their price objective on Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $98.29.

Read Our Latest Report on STX

Seagate Technology Company Profile

(Free Report)

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

Further Reading

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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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